DALLAS, Oct. 29,
2024 /PRNewswire/ -- Invesco Real Estate, a
global leader in the real estate investment management business,
announced today that it has completed a strong quarter for loan
originations, closing $958 million of
loan commitments across 11 floating rate senior loans in
North America and one whole loan
facility in Europe. In the
aggregate, Invesco Real Estate originated five loans secured by
industrial properties, five loans secured by multifamily properties
and two cross-collateralized loans secured by self-storage
properties. These transactions increase Invesco Real Estate's total
loan commitments in North America
to 24 loans totaling $1.7 billion in
committed capital year to quarter.
Since launching a dedicated real estate credit platform in 2017,
Invesco Real Estate has committed over $16.0
billion in capital across more than 209 transactions in
North America. In the third
quarter, Invesco's originations represented a 126%
quarter-over-quarter increase in investment activity and the firm
has now increased loan origination volume sequentially for six
consecutive quarters.
"As we close on $1.7 billion in
loans this year, we reaffirm our commitment to real estate credit
as a sector with lasting growth potential," said Bert Crouch, Head of North America for Invesco Real Estate. "This
milestone highlights both the strength of the foundation we have
built over the past four decades and the deep borrower
relationships we have fostered, enabling us to continue driving
growth and delivering value."
"We are confident in the strong sourcing and lending foundations
of the Invesco Real Estate platform and are excited about the
continuous growth of our debt portfolio," said Charlie Rose, Global Head of Debt for Invesco
Real Estate. "As market sentiments continue to improve, we remain
confident that our credit platform is well-positioned to benefit
from the current banking dislocation, easing inflation, lower
interest rates and the opportunity for gap financing."
In Europe, Invesco Real Estate
recently closed on a €272.0 million ($303.4
million) whole loan facility for the refinance of an
existing facility secured against a portfolio of three prime
logistics centers in Barcelona,
Paris, and Bristol. This loan was backed by capital from
North America.
In addition, Invesco Real Estate closed on the following loans
in North America:
- $128.0 million floating-rate
senior loans for the acquisition of a 5-property portfolio,
spanning 645,000 square feet of highly functional industrial assets
located in key infill markets of Atlanta,
GA, Baltimore, MD, and
Raleigh, NC.
- $101.0 million floating-rate
senior loan for the refinancing of a 2014-vintage, Class-A
high-rise multifamily property located in a submarket of
Washington, D.C. The 400-unit
property features 5,170 square feet of retail space and is
proximate to Union Market and the Metrorail.
- $83.5 million floating-rate
senior loan for the acquisition and lease-up of an industrial
outdoor storage portfolio consisting of eleven assets totaling 94.3
acres located across six states throughout the United States.
- $55.5 million floating-rate
senior loan for the acquisition and mark-to-market of a
2022-vintage, Class-A industrial property totaling 339,214 square
feet located in Henderson, NV. The loan was made to a
multi-repeat institutional borrower and is located less than 8
miles from the Harry Reid International airport, and access to over
77 million people within a one-day drive.
- $50.8 million floating-rate
senior loan secured by a newly built, Class-A mid-rise apartment
community totaling 341 units located in Houston, TX. The property is proximate to
downtown Houston and the broader
metro area via I-45 and I-10.
- $47.9 million floating-rate
senior loan secured by a 3-property portfolio of industrial assets
totaling 645,00 square feet in strong infill location in
Louisville, KY, High Point, NC, and Raleigh, NC.
- $44.0 million floating-rate
senior loan for the refinancing of a mid-rise apartment community
spanning 352 units and 33,726 square feet of retail space located
in Dallas, TX. The Class-A
property is part of an 80-acre master planned community with
connections to Dallas's central
business district and the broader area via I-35 and 366.
- $42.4 million floating-rate
senior loan for the acquisition and lease-up of a five-property
self-storage portfolio located in TX, OH, SC, and FL.
- $41.8 million floating-rate
senior loan for the refinancing of a Class-A, low-rise apartment
community spanning 264 units located in Riverview, FL. The property is strategically
located in one of the nationally recognized top multifamily markets
for rent growth.
- $11.3 million, for the
acquisition and lease-up of a three-property self-storage portfolio
located across NC, FL, and WA.
- $48.5 million floating-rate
senior loan for the cash-in refinance of a recently renovated,
146-unit garden multifamily community in San Mateo, CA.
This includes all loans for the third quarter.
About Invesco Real
Estate
Invesco Real Estate
is a global real estate investment management business with $86.4
billion in real estate assets under management, 607 employees and
21 regional offices across the U.S., Europe and Asia as of June
30, 2024. Invesco Real Estate invests
across the risk return spectrum, from core to opportunistic; in
equity and debt; listed and direct; locally and
globally. Invesco Real Estate is a business name
of Invesco Advisers, Inc., an indirect, wholly owned
subsidiary of Invesco Ltd.
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive, and alternative investment capabilities. With
offices in more than 20 countries, Invesco
managed $1.8 trillion in assets on behalf of
clients worldwide as of September 30, 2024. For more
information, visit www.invesco.com.
Contact: Beverly Khoo |
332-323-8029 | beverly.khoo@invesco.com
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SOURCE Invesco Ltd.